At a pivotal point

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The insurance-linked securities (ILS) market is at an interesting point in its existence and, as it develops further, it has real potential to shape not just the risk transfer sector but also the wider world for the better, believes Greg Wojciechowski, president and chief executive officer of the Bermuda Stock Exchange (BSX).

The insurance-linked securities (ILS) market is at an interesting point in its existence and, as it develops further, it has real potential to shape not just the risk transfer sector but also the wider world for the better, believes Greg Wojciechowski, president and chief executive officer of the Bermuda Stock Exchange (BSX).

Wojciechowski says that the past seven years have been fascinating in terms of the way the sector had grown and developed.

“The BSX entered the market just after 2008,” he says. “We thought that there was an opportunity to help accelerate substantive convergence. It was widely reported that there was an exposure gap in the world and there was a firm understanding that capital was going to need to enter from the capital markets address the exposure. It wasn’t necessarily going to be the insurance industry covering risks entirely.”

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